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China s Bilibili Focuses on Growth as Losses Double Patrick Frater, provided by FacebookTwitterEmail Chinese video entertainment platform Bilibili saw its losses deepen in 2020, but they reflected further investment in growth, as Middle Kingdom consumers become increasingly digitally focused. Average monthly active users (MAUs) reached 202 million representing an increase of 55%, compared with 2019. Those paying for use reached 17.9 million, a 103% increase. More from Variety Bilibili’s total net revenues were RMB3.84 billion ($589 million) in the calendar year, an increase of 91% from the same period of 2019. Net losses extended from RMB1.3 billion in 2019 to RMB3.1 billion ($468 million). But investors appeared to buy the growth story. The NASDAQ-listed company saw its ADR-shares dip before the results announcement, but the stock gained nearly 4% to $131.88 in after-hours trading. At that price, Bilibili has a market capitalization of $45 billion. ....
New York City Movie Theaters Can Reopen at Limited Capacity, Gov. Cuomo Says Rebecca Rubin, provided by FacebookTwitterEmail After nearly a year of closures, New York Gov. Andrew Cuomo has given movie theaters in New York City permission to reopen at limited capacity starting on March 5. During his daily press briefing, the Empire State leader said cinemas in the city will be permitted to operate at 25% capacity, with no more than 50 people. Moreover, other safety measures such as masks, social distancing and heightened sanitizing measures will be required. Last October, New York venues outside of the city were allowed to reopen with similar restrictions. ....
Beijing Culture Share Price Leap Reflects Chinese New Year Box Office Surprise Rebecca Davis, provided by FacebookTwitterEmail The embattled production powerhouse Beijing Culture has emerged as the biggest publicly-listed winner of the Chinese New Year box office bonanza. Its stock price has climbed 18% since the start of the holiday thanks to the success of its hit comedy “Hi Mom.” The boost is a much needed one following two years of losses and a government investigation late last year that unveiled mismanagement and inaccurate figures in its prior financial statements. The stock has a history of spiking sharply upwards on good news, only to head lower at other times ....
China's New Year Box Office Breaks $1.2 Billion as 'Hi, Mom' Catches 'Detective Chinatown 3' lmtonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lmtonline.com Daily Mail and Mail on Sunday newspapers.